MILAN: Sergio Marchionne , the architect of the auto industry's biggest deal in more than a decade, may not be finished yet. Even as he completed the merger of Fiat and its US Chrysler unit last year to create Fiat Chrysler Automobiles (FCA), Marchionne said the industry is still fragmented and ripe for further consolidation. His planned spinoff of Ferrari this year puts the $14 billion automaker into position for another combination that could form a group to vie with No. 1 Toyota...

NEW DELHI: Fiat is in talks with a number of potential partners in China as it seeks to offset sluggish sales in Italy and the rest of Europe, its chief executive said on Thursday. "For Italy, 2008 will be a painful year, 2009 will be better the rest of Europe won't see a stellar performance in 2008," Sergio Marchionne said on the sidelines of an automotive industry conference. Fiat is talking to a number of potential partners in China and may have to push the...

NEW DELHI: Admitting that the joint venture between Tata Motors and Fiat has not been as active as planned, Tata Group Chief Ratan Tata has said the association needs to be critically examined to optimise its potential. In an interview in market research firm JD Power's report on the Indian automobile industry, Tata said his good personal rapport with Fiat Chief Executive Officer Sergio Marchionne has not been translated at the working level...

FRANKFURT: Maserati SpA's new sport-utility vehicle was one of the most sought-after models at the Frankfurt car show this week and Ferrari SpA predicted record sales as executives said ultra-luxury remains recession-proof. "If you go to the Ferrari stand, there aren't any customers worried about the recession," Fiat chief executive Sergio Marchionne said at the International Motor Show. Fiat's two upscale brands may help the Turin, Italy-based carmaker weather...

MILAN: Italy's Fiat reiterated plans to announce a new industrial alliance at the end of July, the latest in a series of deals by automakers to cut production and distribution costs in the highly-competitive sector. "We will try to announce it with (publication of) the results of the second quarter," chief executive Sergio Marchionne said on Monday at the annual assembly of the country's stock market regulator, Consob. Mr Marchionne also said he hoped to announce a partner for Fiat's...

MILAN: The head of Italian car group Sergio Marchionne could become the new head of struggling US giant Chrysler under a tie-up between the companies, an industry magazine reported on Tuesday. Automotive News, citing sources close to the discussions, reported on its website that Chrysler could change its management structure after the completion of its alliance with Fiat. The magazine said the new management structure would divide the roles of chief executive...

SOUTHFIELD: Chrysler LLC's proposed alliance with Fiat SpA would usher in a new chief executive officer and a largely independent board picked by the Italian automaker and the US government. The directors would appoint a chairman and name a new chief, "with Fiat's concurrence," CEO Bob Nardelli said in a letter to employees at Auburn Hills, Michigan-based Chrysler. Fiat's chief, Sergio Marchionne, said in an April 15 interview that he would be willing to...

TURIN, ITALY: Shareholders on Thursday put Fiat's ambitious chief Sergio Marchionne within reach of his dream to position the iconic Italian automaker as a force to reckon with in the global marketplace. Italy's largest private employer, created by the legendary Agnelli family and a symbol of the country's post-war industrialisation, won the green light to spin off its non-car activities. John Elkann, Fiat's 34-year-old president and the grandson of historic boss...

MILAN: Italian automaker Fiat will award two million free shares to chief executive officer Sergio Marchionne over 2009 and 2010 if he meets specific performance criteria, the company announced on Monday. The plan would award a total of up to eight million shares to Fiat's top management including the two million for Marchionne if they meet "predetermined performance targets," Fiat said in a communique. After a spectacular comeback in...

MUMBAI: Close on the heels of Ratan Tata's statement on reworking Tata Motors' link with Fiat, the Italian car major has said that their partnership will continue, albeit the terms will be revised. "The terms will change, but the project will keep going ahead," Sergio Marchionne, CEO, Fiat, told reporters on the sidelines of an event in Italy. Earlier, Ratan Tata had said that both Fiat and Tata Motors are having a relook at their 50:50 joint venture partnership to see if it could...

NEW DELHI: Admitting that the joint venture between Tata Motors and Fiat has not been as active as planned, Tata Group Chief Ratan Tata has said the association needs to be critically examined to optimise its potential. In an interview in market research firm JD Power's report on the Indian automobile industry, Tata said his good personal rapport with Fiat Chief Executive Officer Sergio Marchionne has not been translated at the...

MILAN: Fiat chief executive officer Sergio Marchionne said he's told bankers pushing him to pursue an initial public offering of Ferrari that the division may be worth more than 5 billion euros ($7.3 billion). "I've always viewed Ferrari as a sacred brand, and sacred brands are peculiar," Marchionne said in an interview at Fiat's headquarters in Turin, Italy. "I know I can float Ferrari any time, but there's nothing on my desk. " Ferrari, which...

MILAN: Fiat and Chrysler chief executive Sergio Marchionne said he had no immediate plans to merge the two automakers as shares in a new stripped-down Fiat began trading on the stock exchange on Monday. But Fiat may raise its stake in Chrysler, which it saved from bankruptcy, to 51 percent if the troubled US automaker returns to the stock market this year, he added. "I have no plans to merge Fiat and Chrysler today," Marchionne told...

MICHIGAN: Chrysler's redesigned Jeep Grand Cherokee has been so successful that Fiat may use the sport-utility vehicle's platform for Alfa Romeo and Maserati models , the companies' chief executive officer said. Chrysler, the US automaker controlled by Fiat, introduced the updated Grand Cherokee earlier this year. "One of the things that we are now looking at in some detail is the possibility of utilising this architecture and extending its...

MILAN: Sergio Marchionne , the architect of the auto industry's biggest deal in more than a decade, may not be finished yet. Even as he completed the merger of Fiat and its US Chrysler unit last year to create Fiat Chrysler Automobiles (FCA), Marchionne said the industry is still fragmented and ripe for further consolidation. His planned spinoff of Ferrari this year puts the $14 billion automaker into position for another combination that could form a group to vie with No. 1 Toyota...

TURIN, ITALY: Shareholders on Thursday put Fiat's ambitious chief Sergio Marchionne within reach of his dream to position the iconic Italian automaker as a force to reckon with in the global marketplace. Italy's largest private employer, created by the legendary Agnelli family and a symbol of the country's post-war industrialisation, won the green light to spin off its non-car activities. John Elkann, Fiat's 34-year-old president and the grandson of historic boss Gianni...

MILAN: Fiat boss Sergio Marchionne said Wednesday he would go ahead with plans to double car production in Italy, but only if unions embrace his modernising vision. Marchionne, at a meeting with union leaders attended by labour minister Maurizio Sacconi, said the choice was between "modernising Italy's productive grid to make it more competitive ... or leave things as they are, accepting that the industrial system remains inefficient and inadequate....